Mexican miner Cobre del Mayo (CDM) was due to price a $225
million 5-year bond later Thursday. The deal represents a debut for the B3/B
debut credit, and would be part of a steady stream of high-yield issuance that
is now reaching into single B territory.
Also, Peru’s Andino Investment Holding (AIH) was expected to
price a transaction
of more than $130 million as soon as this afternoon. The B+/BB minus trade
and transportation holdco is looking to follow a sale through its Terminales
Portuarios Euroandinos unit done last year.
Brazil’s CBC Ammo also is targeting
a bond, as soon as Friday. The issuer, an small-caliber ammunition maker
with global sales, is hoping to lure buyers to a 2021 bond of up to $250 million.
The transactions will look to build off of the momentum of
million ticket and cargo revenue securitization and a $150
million debut from Guatemalan Banco de los Trabajadores done earlier this
week in the double-B space.
In the double-B space, sugar exporter Ingenio Magdalena plans
to bring out $400
million bond, another debut, as soon as this week. Investment-grade issuers
on tap included Mexico’s
Fresnillo, as soon as today, and Coca-Cola